Are Gold IRAs Legit?
Taxes
Gold IRAs are self-directed retirement accounts that enable you to invest in physical precious metals. While following standard IRS rules regarding contributions, withdrawals, and annual contribution limits, they differ in that they utilize physical assets and therefore have different tax rules than traditional IRAs due to being treated by the IRS as collectibles that must be stored with an approved depository and cannot be removed from your account at any point in time.
There may also be additional storage fees when investing in physical gold that differ from standard IRA fees. You should always compare custodian fee schedules to find the best deal, and consider whether to combine your gold assets with those of other investors or keep it separate – these decisions could have an enormous impact on your returns; an expert advisor can help guide your selection process to optimize returns and make informed recommendations that suit your unique situation.
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